(1) A buyer may avoid
a contract for the sale and purchase of a lot at any time before the
settlement date for the contract if —
(a) a
type 1 notifiable variation occurs in relation to the contract; and
(b) the
seller does not substantially comply with the requirement under section 157 to
give notice of the variation to the buyer within the required time.
(2) However, if the
seller gives a notice substantially complying with the requirement under
section 157 before the buyer avoids the contract under this section, the buyer
may not avoid the contract under this section more than 15 working days after
the seller’s notice is given.
[Section 161 inserted: No. 30 of 2018 s. 83.]